SWIFT Messaging Network Remains Vulnerable To Hacking And Cyber Theft

SWIFT Messaging Network Remains Vulnerable To Hacking And Cyber Theft

Thankfully, nearly four in five attacks have not resulted in fraudulent transactions taking place. The year 2016 has not been overly positive for the SWIFT payment network. More than a year after the system was used to steal US%81m from the Bank of Bangladesh, security vulnerabilities are still present. Despite issuing a warning to partner banks on November 2nd, the network threat remains “very persistent” and will not go away anytime soon. In a letter issued to SWIFT partners in November, the group indicated there are still lingering vulnerabilities affecting the SWIFT messaging network.....


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